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Sunny Florida Beach Foreclosures

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By : Scott Miscall    99 or more times read
There is a certain art to buying foreclosures, especially if you are looking for Florida beach foreclosures. It takes time to build up a network of reliable sources in any area, and even then you have to be patient and take your time in finding the right deal.

Florida beach foreclosures are a special case because of their value and the market for renting and selling them. An investor can make a killing buying beach foreclosures, especially if he can get a great deal from the bank. Thereís a shortage of beachfront property though, which means that the fight for these properties can be intense.

The first thing you need to do is find a list of Florida beach foreclosures either online or locally so that you can get an idea of which areas are most often available. If there is an area that suffers from a large amount of foreclosure, then you might look to see why. The area could be in decline, or quite possibly, the prices could be so high that people just canít afford them.

Itís important to also take a look at online foreclosure directories, largely because of the ease of which you can access properties. You can go through the lists, by area, without leaving your office. If you find a property that you like, then you can make the call to see what the minimum bid is. If itís in your price range, with the equity you need to be comfortable with the deal, then you can submit an offer to the bank. If they accept, itís yours!

If you are looking to buy a Florida beach foreclosure to live in, then you might be able to afford one that is slightly more expensive or with a bit less equity. The reason for this is that you donít need to be able to sell it instantly to make money. Over time, you will still build equity, but in paying more you can beat out most of the investors in the area. Just make sure the home is move in ready or if it isnít, that you get a cheap enough price in order to pay for repairs.

Buying foreclosures requires more patience than anything and you canít rush yourself into a deal if the numbers arenít right. Sometimes, the bank will try to outsmart the investor by setting the minimum bid too high. At that point, you can either sit back and wait, or move on to something else. Never buy a house based on the bankís recommendation Ė always use the appraisal and local home sale records to set your price.

Of course, once you finally get your hands on one of these properties, youíll have no trouble turning it over or getting it rented. You can usually pay your mortgage payment with a single rental per month, which makes these properties very attractive for everyone. With the sound of the waves, the sun shining, and the salt in the air, you canít go wrong with Florida living.
Search over 10,000 Florida Foreclosures, Short Sales and Bank Owned Homes in Florida. FL Repos specializes in Tampa Bay Foreclosures and Orlando Bank Owned Properties.

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